New York City’s performing arts will be getting a much-needed financial boost from the Open Society Foundations, which announced $11 million in grants for several area music, dance and theater groups.
"This initiative is part of our wide-ranging, ongoing work to address the economic crisis nationwide," said Ann Beeson, executive director of U.S. Programs at the Open Society Institute, who helped managed the program. "We’re not an arts foundation, but we know the central role arts and culture play in economic stability and social change."
Ms. Beeson added that nonprofit arts groups employ three times as many people in New York City as law firms do.
According to a report released in May by the Alliance for the Arts, more than 60 percent of arts organizations in New York City reported significant budget cuts following the economic crisis. The lack of available funding has resulted in fewer jobs in the arts industry. Thanks to the generous gift from the foundations, a total of 79 nonprofit organizations dedicated to the fine arts will be receiving grants that will enable them to increase their public programming, retain jobs and even hire new performers.
The two-year operating grants, which range from $65,000 to $250,000, are made possible through the Performing Arts Recovery Initiative, a one-time grant program sponsored by the Open Society Foundations and managed by the Fund for the City of New York. The dance, music and theater organizations selected to receive grants operate on budgets between $75,000 and $7 million, and were selected for their commitment to artistry and their contribution to New York’s culture.
The organizations receiving grants include the Bronx Art Ensemble, Ballet Hispanico and the New York Youth Symphony.
"The arts and arts education are a vital part of the fabric of New York City," said George Soros, chairman of the Open Society Foundations. "This funding will help organizations that have been under severe strain because of the economic crisis."
The Open Society Institute and Soros Foundations were established by George Soros in 1993. Soros, a survivor of Nazi-occupied Hungary, has been involved in philanthropic pursuits for more than 40 years. To date, he has given away more than $7 billion for causes including domestic abuse prevention, HIV/AIDS testing, ending global poverty and rebuilding urban areas.